Personal finance, other than secured housing finance for owner occupation, is finance provided to individuals for personal, non-business use.

In 2003-04, there was a total $699.7 million in personal fixed loans in Tasmania, an increase of $174.7 million (33.3%) on the 2002-03 figure of $525.0 million. Personal fixed loans increased for all purposes with the exception of unsecured loans for owner occupied housing, which decreased by $1.6 million (11.0%). The largest increase was in individual residential blocks of land, up by $32.7 million, or 77.9%.

PERSONAL FINANCE COMMITMENTS, Value of Fixed Loans, Tasmania

2000-01

2001-02

2002-03

2003-04

Purpose

$m

$m

$m

$m

Motor vehicles(a)

212.7

223.6

235.1

273.1

Boats, caravans and trailers

10.0

9.8

11.5

14.9

Individual residential blocks of land

16.4

22.9

42.0

74.7

Unsecured loans for owner occupied housing(b)

11.4

13.6

14.6

13.0

Household goods

16.5

16.6

21.6

28.6

Debt consolidations

26.5

41.4

47.1

64.7

Travel and holidays

7.7

7.3

7.4

11.9

Refinancing

39.9

44.6

60.9

105.0

Other

63.2

75.9

84.8

111.0

Total fixed loans

404.3

455.6

525.0

699.7

(a) Includes motor cycles and other motor vehicles.(b) Includes alterations and additions.